The GBPUSD bull flag pattern is in play.

The GBPUSD rallied hard today as we broke the 1.3015 resistance. Now that we closed above the 1.3100 level, traders may use dips back below the 1.3050 level for fresh longs ahead of the Dec 12th elections. As long as the polls continue to show UK conservatives with a healthy lead the GBP may stay bid. The 1.3200 level is a long term trend line and also the 50% tradecement of the 2019 range and also the 161% extension of the recents consolidation. This may be still resistance.

Steve Voulgaridis